Status : Published Published On : Apr, 2020 Report Code : VRAT4070 Industry : Automotive & Transportation Available Format : Page : 208

Global Unmanned Surface Vehicle (USV) Market – Analysis and Forecast (2019-2025)

Industry Insights by Mode of Operation (Autonomous Surface Vehicle, Remotely Operated Surface Vehicle), by Size (Small, Medium, Large, Extra-Large), by Type (Surface, Sub-Surface), by Application (Defense, Commercial), by System (Payload, Propulsion, Component, Communication, Software, Chassis Material), by Endurance (-<100 hours, -100-500 hours, -500-1000 hours, ->1000 hours), by Hull Type (Catamaran, Trimaran, Kayak, Rigid Inflatable Hull)

Industry Overview

The global unmanned surface vehicle (USV) market was valued at USD 1,513.0 million in 2019 and is expected to reach USD 3,096.0 million by 2025, growing at a CAGR of 12.5% during 2020-2025. The growth of this market is attributed towards rapid need for mapping data pertaining to ocean globally along with extensive requirement for maritime security. These vehicles are extremely efficient in estimating the threats and monitoring water quality. In order to prevent water bodies from getting contaminated the government authorities globally are undertaking initiatives in order to combat this situation and unmanned surface vehicle performs significant role and helps the government in conducting surveillance.

Unmanned Surface Vehicle (USV) Market Highlights

Unmanned surface vehicle (USV) commonly known as autonomous surface vehicles operates on the water surface without any requirement of crew or person on it. These vehicles are considered to be extremely affordable as compared to that of other research and weather vehicles. The unmanned auto pilot system (UAPS20) drives this vehicles and is extremely beneficial in discovering places where climatic condition is rough and enables smooth collection of data without putting life at stake for any individual. Increasing benefits of this vehicle is thereby strengthening the growth of global unmanned surface vehicle (USV) market.

Market Segmentation

Insight by Mode of Operation

On the basis of mode of operation, the global unmanned surface vehicle market is segmented into autonomous surface vehicle and remotely operated surface vehicle. Amongst these segments, autonomous surface vehicle segment is expected to generate larger revenue by 2025 due to excessive utilization of these vehicles in commercial and defense applications. The ability of these vehicles to perform uninterrupted operations without human intervention for both military and commercial operations makes it an attractive segment.

Insight by Size

Bases upon size, the global unmanned surface vehicle market is subdivided into small, medium, large, and extra-large. Amongst these segments, large segment is anticipated to generate largest revenue by 2025 as these large segments are gaining huge acceptance in defense industry such as for combating operations, ISR activities and resupply and cargo.

Insight by Type

On the basis of type, the global unmanned surface vehicle market is subdivided into surface and sub-surface. Amongst these segments, surface is expected to witness higher CAGR during the forecast period as being on surface USV can easily locate operator on land and other vessel.

Insight by Application

On the basis of application, the global unmanned surface vehicle (USV) market is subdivided into defense and commercial. Amongst these segments, defense is expected to witness higher CAGR during the forecast period. The defense sector needs to identify probable threats and occurrence that could be national danger as a result to which it USV is gaining greater acceptance in this sector.  

Industry Dynamics

Industry Trends

Increasing research and development activities in the hydrography and oceanography field along with rapid need for monitoring anti-submarine warfare and ocean quality are the key trends witnessed in the global unmanned surface vehicle market. 

Growth Drivers

Extensive contamination undertaking in the ocean fresh waters and requirement of preventing the contamination along with increasing need for trustable, highly advances and reliable USVs specifically in the military domain are the key factors that are driving the growth of global unmanned surface vehicle market. Unmanned surface vehicle in military domain is used for mine hunting and discovering seaborne targets. Moreover, USVs are considered to be crucial vehicles for using it in hydrographic survey. Utilizing small USV in parallel to conventional survey vessels act as a force multiplier aims at doubling survey coverage and thereby reducing the on-time site.

Challenges

Lack of capability of collision detection of the USVs, availability of low cost unmanned underwater vehicle and remotely operated underwater vehicle are they factors that are anticipated to hinder the growth of global unmanned surface vehicle market.

Geographic Overview

Geographically, North America is the largest unmanned surface vehicle (USV) market and is expected to generate largest revenue by 2025. The growth of the market in this region is attributed towards increasing incidents of violence in countries along with rampant technological upgradation. Moreover, the U.S. is considered to be the largest operator, developer and developer of USVs that is further escalating the growth of unmanned surface vehicle (USV) market.

Moreover, Europe is expected to witness highest CAGR during the forecast period due to extensive demand for water quality monitoring and ocean data mapping. Furthermore, rampant demand for autonomous surface vehicles used by navies for ISR activities and oceanographic studies are other factors driving the growth of unmanned surface vehicle market in this region.

Competitive Insight

Key players in the unmanned surface vehicle (USV) market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe.

Some of the major players operating in the global unmanned surface vehicle (USV) market are Textron Inc., ECA Group, Rafael Advanced Defense Systems, ASV Global, Israel Aerospace Industries, Atlas Elektronik, Teledyne Technologies, 5G International, SeaRobotics, Liquid Robotics, Maritime Robotics, and Elbit Systems.

Forecast Parameters

  • Identifying variables and establishing market impact.
  • Establishing market trends regionally.
  • Analyzing opportunities and market penetration rates by understanding product commercialization, regional expansion.
  • Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
  • Analyzing sustainability strategies adhered by market participants in an attempt to determine future course of the market.
  • Analyzing historical market trends and super-imposing them on the current and future variables to determine year-on-year trend.
  • Understanding adoption, production, export, import and regulatory framework.

Data Validation

  • Estimated and forecasted data was validated through industry experts.
  • Apart from industry experts, data triangulation methods were used for validation.
  • Bottom up and top down approach has been used for estimation and forecast of market data, whereas top down approach was used for validation.
  • Demand, as well as supply-side surveys, were conducted in order to understand the industry dynamics and data validation.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behaviour.

Unmanned Surface Vehicle Market Size

Source: VynZ Research

Unmanned Surface Vehicle Market Analysis

Source: VynZ Research

Frequently Asked Questions

The global unmanned surface vehicle (USV) market is growing at a CAGR of 12.5% during 2020-2025.
Some of the major players operating in the global unmanned surface vehicle (USV) market are Textron Inc., ECA Group, Rafael Advanced Defense Systems, ASV Global, Israel Aerospace Industries, Atlas Elektronik, Teledyne Technologies, 5G International, SeaRobotics, Liquid Robotics, Maritime Robotics, and Elbit Systems.
North America is the largest unmanned surface vehicle (USV) market and is expected to generate largest revenue by 2025.
Defense sector is the major application for this market.
On the basis of type, surface is expected to witness higher CAGR during the forecast period.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Unmanned Surface Vehicle (USV) Market